New Delhi: The concerted efforts to improve the business environment and boost investment have helped India attract investment, but these measures are not enough. The International Monetary Fund (IMF) has expressed this opinion. The IMF has said that India still needs to make more economic reforms to attract investment.
IMF Chief Spokesperson Gerry Rice said that India needs more economic reforms. He said, India needs to add additional infrastructure along with further improvement in the field of labor, land etc. In our view, through these reforms, India will be able to attract more investment and move faster on the path of inclusive growth. However, Rice also said that India has made good efforts to attract investment in recent years. He said that the business environment has been improved and best measures have been taken to attract investment in business. These have helped in attracting investment.
He has said that India has made many important reforms like the Bankruptcy Code, Goods and Services Tax. This has improved India's position in the World Bank's Ease of Doing Business. In 2020, India has reached 63rd position in the Ease of Doing Business Rankings, while in 2018 it was ranked 100. This is a commendable improvement.